Can Solar Panels Add Value To Your Home in Aurora?
If you own a home in Aurora, Co, you have indeed seen the energy bill increases that seem never to stop. So if you’ve started looking into going solar, one of the first questions you would ask is- “Can Solar Panels Add Value To Your Home in Aurora?”
Energy.gov found that Solar Panels add $15,000 of value to your home as soon as installed.
According to Energy Sage, If you live in the 80015 Zip code, you could save $19,033 over the next 20 years by going solar today.
A new Lawrence Berkeley National Lab (LBL) study backs up these findings! The report, entitled “Selling into the sun: Price premium analysis of a multi-state dataset of solar homes, “builds on previous research which concluded that homes with solar panels sold more than those that did not have solar panels. In addition, LBL’s analysis of the housing markets across the United States shows that the premium paid for homes with solar is nationwide.
An age-old question that has been debated for years-
“Can Solar Panels Add Value To Your Home in Aurora?”
Can finally be easily answered. Yes, solar will add value to your home immediately, providing a valuable service and saving you money every month.
If you are considering purchasing a solar system for your home, the study’s conclusions should give you confidence that you are making an intelligent investment. LBL finds that homes with solar panels will benefit from a ‘solar premium’ when sold because buyers are willing to pay more for a home with solar panels.
Electricity Market and Policy said, “Our study enhances the PV-home-valuation literature by analyzing 22,822 home sales, of which 3,951 have PV, and which span eight states during 2002–2013”.
Colorado has clarified that it is a pro-solar state and will stay focused on advancing Solar.
State legislation has provided favorable solar laws, incentives, and more. ReenergizeCo found that Colorado is a highly sunny state with nearly 300 days of sunshine yearly. Colorado typically gets 3,204 hours of daylight annually, allowing an optimal amount of sunlight to power a residential solar panel system.
Denver and Aurora’s residents instantly increase the value of their homes, but they also receive benefits from Xcel’s Solar Rewards. Few other states have the same incentives in place. With all that sunshine, it can be difficult for residents in Aurora to use all that solar power. However, the extra power will not go unused. Instead, Xcel will buy back the additional power through their Net Metering Programs, and the customers will get paid for the energy.
What is surprising about these figures is that they are very close to what you would pay for a brand new solar system today. For example, our analysis of prices for 6kW solar systems reveals that some of the more expensive systems cost just over $4/W. And bear in mind that these prices are what you would pay before you consider the generous 26% Federal tax incentive. As solar costs continue to drop, it has also slowly become more accepted by the masses. The adoption of solar has led to broader adoption in the marketplace. As realtors and Homeowners alike become more comfortable seeing a solar increase in the sale price of a home, they subconsciously perceive more value.
The data keeps stacking up; it is becoming clear that Solar Panels add value to your Aurora home.
The real estate evaluation company Zillow has used its database to help answer the age-old question, How much value does solar add to the home? They determined your house is worth approximately 4.1% more with Solar Panels. Each housing market is different, and so is each solar system. If your solar setup produces 140% of your current energy consumption, that system would be worth more than neighbors whose solar only makes 80% of the energy needs.
In Aurora, solar has slowly become more widespread, and finally, we can answer the question, “Is solar in Colorado worth it?”
If you plan to sell in less than a year, installing solar panels might be more of a headache than a money saver. However, if you will be there for even a few years or are undecided, solar panels save you money instantly. So when asked, ”
In addition, real-world examples of solar panels increasing the sale price of each home have helped the general public recognize the value that having solar installed on a home can provide!
Blue Sky Solar and Roofing is a solar and roofing restoration company with offices in Dallas, Texas, and Denver, Colorado. Blue Sky specializes in efficient solar panel system design and installation. Our roofing division is fully licensed and insured, specializing in environmentally conscious roofing systems. Providing each customer a single phone call warranty for everything on the roof!